Chinese Premier Reports Supply Chain Fragmentation
(MENAFN) Chinese Premier Li Qiang cautioned on Wednesday that supply chains are facing fragmentation, and cross-border investments are diminishing due to the impact of US tariffs.
Speaking at the 16th annual "New Champions" meeting—commonly referred to as Summer Davos—in Tianjin, northern China, Li emphasized that the international economic and trade environment is "undergoing a profound change," according to a state news agency.
He noted that beyond the effects on global institutions and the increase of regional partnerships, the world is witnessing unstable declines in cross-border investment alongside escalating threats to production and supply chains becoming fragmented.
Li stressed the significance of these challenges amid a shifting global landscape.
Furthermore, Li assured that Beijing stands ready "to do whatever it takes to help tackle" the obstacles and difficulties facing the global economy.
He expressed strong confidence in China’s capacity to maintain vigorous economic growth and highlighted the rapid advancement of the Global South as a key factor shaping the future.
These remarks by Chinese Premier Li come in the context of the United States imposing reciprocal tariffs on multiple nations worldwide, including China, which has unsettled the global economic environment.
Although the Trump administration temporarily suspended these tariffs for 90 days, until early July, ongoing negotiations continue as Washington engages with countries globally to establish new trade agreements.
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